Pattern Group Inc. (NASDAQ:PTRN) Receives Average Recommendation of "Buy" from Analysts

Key Points

• Pattern Group Inc. (NASDAQ:PTRN) has received a consensus rating of "Buy" from nine analysts, with an average target price of $18.11.
• CEO David K. Wright sold over 9 million shares of the company's stock, resulting in a 24.24% decrease in his position, while Director Daniel Gay also sold 1.3 million shares, a 61.05% decrease in his ownership.
• The company's shares have fluctuated between a 52-week low of $12.00 and a high of $16.00, opening at $13.97.

Pattern Group Inc. (NASDAQ:PTRN - Get Free Report) has earned a consensus rating of "Buy" from the nine analysts that are currently covering the firm, Marketbeat.com reports. Nine research analysts have rated the stock with a buy rating. The average 12 month target price among analysts that have issued a report on the stock in the last year is $18.1111.

A number of research firms have recently weighed in on PTRN. Stifel Nicolaus set a $18.00 price objective on Pattern Group in a research note on Tuesday. KeyCorp began coverage on Pattern Group in a research note on Tuesday. They issued an "overweight" rating and a $18.00 price objective for the company. JPMorgan Chase & Co. began coverage on Pattern Group in a research note on Tuesday. They issued an "overweight" rating and a $18.00 price objective for the company. The Goldman Sachs Group began coverage on Pattern Group in a research note on Tuesday. They issued a "buy" rating and a $17.00 price objective for the company. Finally, Needham & Company LLC began coverage on Pattern Group in a research note on Tuesday. They issued a "buy" rating and a $18.00 price objective for the company.

Pattern Group Price Performance

Shares of PTRN opened at $13.97 on Tuesday. Pattern Group has a 52 week low of $12.00 and a 52 week high of $16.00.

Insider Activity at Pattern Group

In other news, CEO David K. Wright sold 9,414,286 shares of the stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $13.02, for a total transaction of $122,574,003.72. Following the completion of the transaction, the chief executive officer directly owned 29,418,585 shares in the company, valued at approximately $383,029,976.70. This represents a 24.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Daniel Gay sold 1,300,000 shares of the firm's stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $13.02, for a total value of $16,926,000.00. Following the completion of the sale, the director directly owned 829,475 shares of the company's stock, valued at $10,799,764.50. The trade was a 61.05% decrease in their ownership of the stock. The disclosure for this sale can be found here.

Pattern Group Company Profile

At Pattern, we are on a mission to help brands accelerate profitable growth on global ecommerce marketplaces. Today, our proprietary technology and on-demand experts operate across more than 60 marketplaces to increase product sales to consumers in more than 100 countries. Utilizing more than 46 trillion data points and sophisticated machine learning and artificial intelligence (“AI”) models, we strive to optimize and automate key levers of ecommerce growth, including advertising, content creation and management, pricing, forecasting and customer service.

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